Walgreens-Berlin NH

Retail-Commercial for Sale
Catylist Listing ID: 30180173
Property Subtypes: Free-Standing Building
Building Size (RSF): 7,520 SF
Gross Building Area: See Agent
Sale Price: $1,150,000
Unit Price: $152.93 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 9/4/2019

Overview / Comments

Former Rite Aid now Walgreens!
The subject property is comprised of two parcels in Berlin NH. One parcel is a corner lot located at the corner of Mason Street and Pleasant St with an address of 200 Pleasant Street in Berlin, NH. the second parcel is a parking lot used for additional parking. Current Tenant is Rite Aid. 7,520 +/- SF building and sits on .38 Acres of land. Approximately 18+/-
parking spots. Walgreens has elected to renew the lease for an additional 5 years, showing their commitment to this site extending the lease until 1/31/2024. Walgreens has (1) additional 5-year option period remaining.

Rite Aid Rent Schedule:
Current- 2/1/2019-1/31/2024 $96,600/Annually
4th Option- 2/1/2024-1/31/2029 $111,090/Annually

The second lot is located next to the Walgreens parcel on Pleasant St. It is a vacant lot used for additional parking. This is a 0.13 AC lot which runs lease has also been extended to 1/31/2024. There are 2 remaining options to extended this lease agreement for 5 year periods pushing this lease out until 2034, should all renewals be used.

Parking Lot Rent Schedule:
3rd Option- 2/1/2019- 1/31/2024 $10,200/Annually
4th Option- 2/1/2024-1/31/2029 $11,300/Annually
5th Option- 2/1/2029- 1/31/2034 $12,400/ Annually

Total Lot Size between two parcel: 0.51 AC
218 FT of Frontage on Pleasant Street
130 FT of Frontage on Mason Street
Book/Page: 661/212
Approximately 5,800 +/- cars a day!

Attachments & Media

Financials

Finance Data Year 2017
Real Estate Taxes - Annual($) $7,500 (Annual)

Additional Details

Nearest MSA: Berlin
County: Coos
Tax ID/APN: 119/31
Zoning: DT
Lot Frontage: 218

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,331 9,078 13,147
Median Age: 42.8 44.37 45.19
Households: 2,492 3,756 5,536
© Copyright 2001-2019 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither New England Commercial Property Exchange nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.